Minimum Subscription Term Updates
We’re making some changes…
From November 9th 2022, we are updating our minimum subscription term to 60 days. You’ll still be able to end your subscription or swap cars by giving us 30 days’ notice, but now the earliest moment you’ll be able to give notice is after your first month.
We explain our reasons for this update below.
At elmo we believe the best way to get people into electric cars is through the flexibility of a rolling subscription contract. This removes the huge financial commitment of buying or leasing a car; and allows you to “try” an electric car (or a few different ones) to check for lifestyle fit.
Even if you’re already an electric car convert, the flexibility of a subscription gives you total peace of mind, as you can choose to have the car only for as long as you need it. For example, if you decide to work abroad for a couple of months, you can hand it back rather than paying for it to sit on your driveway. And then start up again when you come back home!
Flexibility is a key benefit of our subscriptions, but it’s worth highlighting what an elmo subscription is and what it is not.
- elmo is a long-term mobility solution for our customers with the additional benefit of flexibility. We set our prices to be competitive with long-term leases because we believe that subscription is the best way to access a car whoever you are, and we don’t believe that you should pay a premium for flexibility.
- elmo is not a short-term car rental company. Car rental rates are much higher than lease or subscription rates due to the short rental periods. If a customer has an elmo car for 30 days, they are effectively using elmo as a car rental service but paying well below market rates.
Why we are changing our minimum term
We want to keep our pricing competitive with long-term lease deals while keeping our terms as flexible as possible. To do this, we need to avoid situations where our cars are used as a rental option where the costs for us are significantly higher. Importantly, we want to avoid increasing our prices for all customers to account for this as we don’t believe that would be fair.
By increasing the minimum term, we hope to discourage the use of elmo for car rental while continuing to offer great flexibility and competitive pricing to our customers.
What it means for you:
- From the 9th November 2022, all new subscriptions will have a minimum term of 60 days. This means you can give 30 days’ notice to end subscription or swap car at any point after the first 30 days.
- As usual, your subscription will be a rolling monthly contract after the minimum term.
- If you swap to another model during your subscription, your 60-day minimum term will apply, and you’ll be able to give 30 days’ notice after your first month driving your new car
- If you have an active subscription, these changes won’t apply to you unless you book a new subscription.
For example, if your car was delivered on the 10th November 2022 then you’d have to keep it until at least 9th Jan 2023 (60 days later).
To end after 60 days, you would have to give 30 days’ notice on 10th December.
After the first 60 days, the contract rolls over monthly for as long as you want, until you decide to give 30 days’ notice to end.
What happens if you cancel before the minimum term?
If you need to end your subscription before the minimum term is up, we will charge the early termination fee listed in your Subscription Agreement. We may also charge this if you decide to swap cars within the minimum term.